There’s an interesting question here because if the gold price broke in that context, the thermometer would not be just a measuring tool. It would basically affect the underlying psychology.
ALAN GREENSPANEnhances a person’s ability to handle the more ambiguous and qualitative relationships that dominate our day-to-day financial decision-making
More Alan Greenspan Quotes
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I was a fairly good amateur musician, and I was an average professional. But the one thing I saw was that the big band business was fading.
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Indeed, better risk management may be the only truly necessary element of success in banking.
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Revolutions are something you see only in retrospect.
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I think that real pressure is going to occur not by the initiation by the Federal Reserve, but by the markets themselves.
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Gold, unlike all other commodities, is a currency…and the major thrust in the demand for gold is not for jewelry.
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Rules cannot take the place of character.
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Gold still represents the ultimate form of payment in the world.
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Any informed borrower is simply less vulnerable to fraud and abuse.
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No matter how skillful the trading scheme, over the long haul, abnormal returns are sustained only through abnormal exposure to risk.
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Skilled shortages in America exist because we are shielding our skilled labor force from world competition. [Visa quotas] have been substituted for the wage pricing mechanism.
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They seem to sense… that gold and economic freedom are inseparable.
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I guess I should warn you, if I turn out to be particularly clear, you’ve probably misunderstood what I’ve said.
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We can see that in the inverse relationship exhibited by price/earnings ratios and the rate of inflation in the past.
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Fear and euphoria are dominant forces, and fear is many multiples the size of euphoria. Bubbles go up very slowly as euphoria builds.
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Amateurs want to be right. Professionals want to make money.
ALAN GREENSPAN